If you are conversant with the trend on how people become celebrities overnight, you will realize that releasing a music album that is widely accepted, is one of the ways youths and young adults carve a niche in the world today. Of course, good music recording and production companies always play a part in making celebrities and super stars out of ordinary folks who are gifted with singing.
If you have ears for good music and you have what it takes to mix sounds to produce music that can be widely accepted, then you should consider starting your own music recording and production company.
Although starting a music and production company requires moderate start – up capital, but it is indeed a very profitable venture to go into especially if you live in an urban area, where the demographic composition has enough young adults within the age range of 16 – 35 years. These set of people are ready to do anything to hit the lime light; and music is one of the avenues for them to make their millions and by extension become famous.
Much more than being skilled in mixing sounds, and also having the required capital to set up a music recording studio, you would also need to be socially inclined if you must truly do well in this kind of industry. You should be able to go all the way to promote artiste that signs under your recording label.
The truth is that, once you are able to raise one celebrated music superstar under your label, you will struggle less to have artiste to work with. As a matter of fact, you will be screening artiste so that you can work with only the best.
Now lets us go through the 7 basic steps to follow to be able to establish a music recording and production company;
Starting a Music Recording and Production Company – Sample Business Plan Template
1. Create Your Business Plan
Now that you have made up your mind to start a music recording and production company, you are expected to sit down and map out strategies on how to a raise start – up capital, how to run the business, as well as how to make profits. That is basically what your business plan document should contain. It might take you a month or so to come up with a workable business plan, however, you just have to do it.
The truth is that your record label business plan is the blue print with which you can successfully run your business and you are not expected to handle it with levity. It is always advisable to contract the writing of your business plan to professionals if you know you can’t possibly do it yourself. Bottom line is that, it would pay you a great deal to start and run your business with a good business plan in place.
2. Incorporate Your Company
Music recording and Production Company is one of those businesses you can’t start without first registering the business. It is very important that you register your music recording and production company before opening shop for people to come do business with you. Good enough it won’t take much of your time and money to get your business incorporated in most countries of the world.
3. Get a Trademark™
One important thing you need to do in this kind of business is to get a trademark™ for your music label. The process of getting a trademark™ is similar to getting a company incorporated. You can consult with your lawyer so that you can be properly guided in this regard.
4. Lease a Good Facility Suitable for Studio and Production
Your choice of location when it comes to establishing a music recording and Production Company is very important. Of course, it would be to your advantage if you lease a facility that is located in a bubbling city that has loads of upwardly mobile young adult. The truth is that the people that will patronize your business are youths and you must do all it takes to make it easier for them to come to you. So when you are talking to you realtor, ensure you tell them the kind of company you are establishing.
5. Equip Your Music Studio
You would need the following equipment in your music studio; Good Computer; The Digital Audio Workstation (DAW), The Audio Interface, Good Micro Phones, Headphones, Studio Monitors, XLR Cables, Acoustic Panels, Bass Traps, Diffusors, a DAW Remote, a Control Surface, Software Plugins, an Uninterruptible Power Supply (UPS), Monitor Isolation Pads, Studio Monitor Stands, Secondary Monitors, Snake Cables, Direct Boxes, Virtual Instruments, CD Duplicators and a MIDI Controller. Of course you would also need Air conditioners, good lighting systems and every other stuff need to create the kind of ambiance that will give comfort and creativity.
6. Build a Solid Network
It can’t be overemphasized that for you to do well in the music industry, you must have a solid network in place. The truth is that much more than producing good music; you will also need the support of good marketers, On Air Personalities (OAP), Promoters and investors to be able to make it big in this industry. So take advantage of every opportunity you have to build your network.
7. Advertise and Promote Your Business
Every new business requires advertisement and constant promotion for it to gain its own fair share of the available market and your music recording and Production Company is not an exception. Part of what you need to do to promote this type of business is to take advantage of social media platforms because that is where you are going to see loads of people that need your service. You can also pay for an advert slot on a radio station et al.
If you are determined and hardworking, you are likely to breakeven within a year of starting your own music recording and production company especially if you know how to spot and attract great talents from its raw state. These are the 7 basic steps that can help you start your own music recording and production company.
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